Monthly Update Post – July 2018

Firstly, welcome to our July 2018 update and thank you for taking the time to read about what we’ve been up to.  It has been a quiet month for us announcement wise because while our developers beavered away on our web portal, the management team were busy gearing up for tangible announcements we can make in August.

 

Accreditation and Qualification Bodies

Part of the pitch for BuildingIM was to make building sites safer by controlling the access people had to the site, and also the tasks they could perform when they were on the site based on their qualifications.  

In February 2018, there were 2.73m construction employees in the UK.  To access the data surrounding the qualification and accreditations of these individuals, BuildingIM has targeted partnerships with bodies who are already providing these services.  Last month, we signed an agreement that would allow our platform to check qualifications of over 1.5 million of these construction workers, and we are also in talks with another body offering another million qualifications across their three body “brands”.

These integrations will make our platform the safest way to manage your labour resource on site by ensuring that all individuals are accredited, qualified, inducted, and safe.

We will only be able to release the names of these bodies at the point the BuildingIM platform goes live, but as soon as we can release names, we will.

 

Investment

It hasn’t gone unnoticed by the community that there has been a decline in the FCT price since the M3 ANO selection was made; this has affected our original plan because we have not been able to sell the BuildingIM Factoids to help cover running or development costs.

To achieve our goal of being one of the largest EC users of the Factom Blockchain we have decided to apply for traditional investment funding while we wait for the FCT market to improve.  It is our hope that we will not ever be forced into a position where we NEED to sell a Factoid to achieve our goals.

 

Team Update

We are pleased to announce that we have a third member joining our management team.  This individual has built, run, and sold their own SAAS previously and is looking to bring that experience to our team.  We have not concluded their onboarding yet, but please look out for an announcement in the coming weeks.

 

Factom Community

This month, Ben met up with 3 other ANO members in London.  In attendance was Elie from HashNStore, Xavier from LayerTech, and Maarten from Sphereon.  As a group, we discussed many topics, but the most useful for us was around investment funding; Xavier and Maarten were happy to share their knowledge and experience of pursuing investment funding and offered to help where they could.

Ben says “I continue to be impressed by the calibre of individual I meet within the Factom ANO community; every single person I have come across is genuine and whip-smart.  I am proud to find myself in such great company”.

BuildingIM is looking forward to attending the community meetup at the Bitcoin conference in Austin, Texas at the end of October where we will get to meet even more members of the community.

 

Factom Servers

The month of July saw the BuildingIM servers achieve 100% uptime; unfortunately, the network suffered some stability issues which Factom Inc say will be fixed in the next release.  

We have been able to fund the server costs for the month without selling a single Factoid; the market for Factoids is currently depressed and therefore selling the Factoids to cover our costs is not a wise business decision.  We will continue to cover the costs of the servers for the foreseeable future from the BuildingIM seed fund.

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